Stock futures showed a modest increase on Tuesday, as the market took a pause from its recent rally.
Futures linked to the Dow Jones Industrial Average saw a gain of 60 points, equivalent to a rise of 0.16%. Similarly, S&P 500 futures and Nasdaq-100 futures inched up by 0.14% and 0.13% respectively.
Following a positive trading session, where the S&P 500 recorded a 0.45% increase, it is now only 1.2% away from its all-time closing high of 4,796.56 achieved in January 2022. The tech-heavy Nasdaq Composite also displayed a gain of 0.6%, while the Dow Jones Industrial Average rose by a mere 0.86 points.
The recent surge in stock prices has been buoyed by several factors, including indications of potential interest rate cuts by the Federal Reserve in 2024, as revealed last week. This news has acted as a catalyst for the market. Additionally, the market’s risk appetite has been supported by signs of easing inflation levels and a pullback in Treasury yields.
Source (CNBC)
